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Entries in Jobs (205)

Friday
Sep072012

Stocks Edge Higher Despite Flat Jobs Report

Hemera/Thinkstock(NEW YORK) -- It appears investors were able to shake off a dreary monthly jobs report. On Friday, the indexes traded in a narrow range for the session and ended the week with modest gains.
 
The Dow added 0.1 percent and closed up 15 points at 13,306.64. The Nasdaq gained a fraction of a point to close at 3,136.42. The S&P added six points, closing at 1,437.
 
Unemployment fell two-tenths of a percent nationally last month to 8.1 percent, but economists aren't cheering.  They say the 96,000 jobs created fell far short of the anticipated number. They also say the drop was mainly because more out of work Americans stopped looking for new jobs.

Copyright 2012 ABC News Radio

Tuesday
Sep042012

Labor Secretary Hilda Solis Bullish on Job Growth

Labor Secretary Bullish on Job Growth(NEW YORK) -- Secretary of Labor Hilda Solis, who's been on the job for four years, marked Labor Day with an appearance at a labor-themed picnic in Ohio, one of the states President Obama needs to carry if Solis is to have any shot at continuing her current position.

With the economy still experiencing slow growth and the unemployment rate across the U.S. averaging over 8 percent for 43 months, Solis prefers to look at what's gone right during the Obama administration, especially with the Democratic National Convention starting on Tuesday.

She told ABC News, "In the last 29 months, we've seen private sector job growth grow to about 4.5 million jobs.  And this year alone we've already seen one million jobs created so far.  So we need to do better, absolutely, but we need the cooperation from our friends on the Hill and Congress and in the Senate to work with us."

As for what Americans can do to improve their chances at finding a job, Solis contends employers "are looking for people who will have credentials, who are technicians, that have soft skills, that are flexible individuals that can come in to the job market right away.  But the basis for that training has to be through a certificated program."

Copyright 2012 ABC News Radio

Monday
Sep032012

Labor Day 2012: Where The Jobs Are

Kevork Djansezian/Getty Images(NEW YORK) -- With the U.S. unemployment rate stuck at 8.3 percent, the job market can best be described as weak in most parts of the country and for many industries. But well-paid jobs are available, and some employers have positions they can’t fill.

Your personal jobs market may be entirely different than the one your neighbor is facing.

“There are certain sectors where you can get a job, an attractive job,” says Brian Hamilton, CEO of the financial information firm Sageworks. “Anything around health care, pharmaceutical businesses, biotech, software companies, information services.”

“If I’m looking for a job it would be in one of those mega-growth industries that are just growing independent from recessionary cycles.”

But nearly all of those jobs require some level of skill or expertise.

“Having a college education really is the best umbrella in the economic storm,” says Jamie Merisotis of the non-profit Lumina Foundation. “Some form of post-secondary education has really been the difference for most people in the modern economy.”

A new report from the U.S. Bureau of Labor Statistics predicts the best-paying jobs between now and 2020 will be offered to people who have technical or trade skills as well as those with master’s or nursing degrees.

Job losses are expected to continue for low-skilled factory workers.

Since the 2008 recession “virtually all of the job loss has been for people who had a high school diploma or less,” says Jamie Merisotis. “Virtually all of the job growth has been for people with a bachelors degree, an associate degree or some other form of other post-secondary credential.”

Technology and globalization are responsible for sweeping changes throughout the economy.

“We are moving more and more towards an information and software way to operate,” says  Hamilton. “Any position that you can get involving technology, software, gathering information or processing data” is likely to lead to a well-paid job with good prospects.

“Health care really got through the recession pretty much unscathed,” says Michael Erwin, a senior executive at CareerBuilder.com. “We continue to see jobs added as the population continues to age. So that is a great place to look.”

Not only doctors and nurses will be needed by the expanding health care industry. New financial, food services and marketing jobs will be added “pretty much across the board,” says Erwin.

Since 2007 some of the deepest job losses have come in home construction. But the worst of the long deep housing slump may be over. According to the National Association of Homebuilders, “Builder confidence in the market for newly built, single-family homes improved for a fourth consecutive month in August.” The index is at its highest level since February of 2007.

Made in the USA is making a modest comeback as well. But the factories of today are very different places than when thousands of workers were needed to operate all kinds of machines. More than ever robots are playing a role. New positions in manufacturing are largely for employees with design, technical and computer skills.

You are definitely seeing an uptick in the number of jobs being added back to manufacturing,” says Erwin. “When the recession hit that was one of the industries that was hit the hardest.”

Copyright 2012 ABC News Radio

Saturday
Sep012012

Labor Day 2012: Unemployment Remains a Struggle, Especially for Long-Term Unemployed

Comstock/Thinkstock(NEW YORK) -- Labor Day honors workers after labor protestors were killed in a railroad strike over wages and work hours in 1894. The protests began in Pullman, Ill. and spread across the country. This Labor Day, unemployment remains a concern not just for the labor movement but the entire country.

The median duration of unemployed persons is 16.7 weeks, according to the most recent data released by the Bureau of Labor Statistics for July 2012. The figure has been improving but the long-term unemployment remains a widespread challenge to the recovering economy.

Over 5.1 million people have been unemployed for 27 weeks or more, according to July 2012 data from the Bureau of Labor Statistics released in August.

There have been the most number of U.S. jobs lost in local government and education, according to the Labor Department: 77,000 jobs or 1 percent of those jobs. There have been 38,000, or 1.3 percent, lost jobs from the federal government.

Younger workers continually face labor challenges. The unemployment rate for those ages 20 to 24 is 61.7 percent according to BLS data for January released in August. Economists stress that "the discouraged worker effect" can skew unemployment rates to appear smaller than they actually are because those who have given up looking for work have been are considered not in the labor force.

The health care sector has seen some of the biggest increases in jobs: up 299,000 or an increase of 2.1 percent from July 2011 to July 2012.

Job losses from contracting and closing establishments are down relative to pre-recession levels. "Companies are already lean," said Stephen Bronars, chief economist with Welch Consulting. "The weak companies have already failed. Job gains are coming back for growing companies but they are still below pre-recession levels."

All eyes will be on the Labor Department's monthly unemployment report on Friday, Sept. 7, 2012, including both political parties, for fodder in examining the state of the U.S. economy before November's presidential election. If and how the unemployment rate of 8.2 percent changes before November could determine the election, some political analysts say.

Copyright 2012 ABC News Radio

Friday
Aug312012

Labor Day 2012: 8 Biggest Layoff Announcements

PRNewsFoto/Verizon Wireless(NEW YORK) --  It seems it's going to be another tough Labor Day for labor. The U.S. unemployment rate is 8.2 percent, with most jobs lost this year from local and federal government.

In the private sector, many companies are shedding headcount not so much due to a flailing economy, as in previous years, but because of the state of its business or industry, said John Challenger, CEO of executive outplacement firm Challenger, Gray & Christmas.

While many companies quietly and slowly reduce headcount, here are some of the biggest layoff announcements this year that crossed news headlines, according to Challenger, Gray & Christmas.

1. Hewlett-Packard Co.
Technology company Hewlett-Packard announced in May that it expects "approximately 27,000 employees to exit the company, or 8.0 percent of its workforce, as of Oct. 31, 2011, by the end of fiscal year 2014."

The multi-year restructuring plan that included the reduction came after HP reported lower-than-expected third-quarter financial results. The company, based in Palo Alto, Calif., had 350,000 employees as of Oct. 31, 2011.

With competitive pressure from other computer makers, HP is facing a big legacy in a slow growth business, Challenger said.

2. American Airlines
American Airlines, which filed for bankruptcy in November, had initially announced in February that it would eliminate 13,000 positions in a restructuring process, but it has since narrowed those cuts to 10,000.

"American Airlines is restructuring its business and must significantly reduce its labor costs, which will be done by implementing new, consensual labor contracts and changes via a court-supervised process," the company said in a statement to ABC News. "Over time, the company will eliminate 10,000 positions, which is substantially fewer than originally contemplated earlier this year. Fortunately, through voluntary separation programs, we expect far fewer people to be affected than the number of positions."

The company has been negotiating with its pilots' unions over contracts. American and American Eagle have almost 88,500 full-time and part-time employees worldwide, according to its website, while 77 percent of them are represented by one of three labor unions: Allied Pilots Association, Association of Professional Flight Attendants and Transport Workers Union.

3. PepsiCo
PepsiCo hasn't had an easy summer in its Purchase, N.Y., headquarters.

New York City Mayor Michael Bloomberg announced in June he wanted to ban large soft drink sales from the city. And this week, the state attorney general, Eric Schneiderman, announced he's opened an investigation into the energy drink industry. Last month, Schneiderman issued a subpoena to PepsiCo, maker of AMP Energy.

Food and beverage company PepsiCo announced a number of strategic changes in February, such as increasing advertising by $500 to $600 million this year and reducing headcount by 8,700 across 30 countries. The reduction represents about three percent of its global workforce and less than two percent domestically.

4. Food Lion
In January, grocer Food Lion, owned by Delhaize America based in Salisbury, N.C., announced 4,900 employees were exiting the company, some related to the closure of 113 Food Lion stores. The company has about 74,000 total employees.

A spokeswoman for the company said they were able to find retail jobs for a number of the individuals affected by the announcement.

5. Procter & Gamble
Last year, consumer products company Procter & Gamble announced plans to reduce its global non-manufacturing enrollment by 10 percent, or about 5,700 roles, over two years ending June 30, 2013.

In February, the company said it planned to cut 1,600 jobs of the 5,700 by June. The company has reduced 3,000 roles to date, a company spokeswoman told ABC News.

6. Old Country Buffet Inc. (Buffets Inc.)
In January, Buffets Inc., the owners of Old Country Buffett and HomeTown Buffet, said it was filing for bankruptcy and it planned to close 81 restaurants nationwide, which Challenger, Gray and Christmas estimates is leading to a cut of 3,000 positions.

Buffets Inc. did not return a request for comment.

Buffets Inc. filed for bankrupty previously in January 2008, closing 51 restaurants and laying off 2,300 employees.

7. Albertsons (Nevada & California)
In June, grocer Albertsons announced it was laying off up to 2,500 workers in California and Nevada beginning that month.

Albertsons and Food Lion face similar struggles, as they are reflective of very thin margins in the food business, Challenger said.

The supermarket chain has more than 450 locations in about nine states and is a subsidiary of SuperValu, based in Boise, Idaho.

Albertsons did not return a request for comment.

8. Best Buy Co. Inc.
In July, electronics retailer Best Buy announced it was laying off 2,400 workers, including 600 Geek Squad (aka tech support) representatives.

The company has struggled with sales, reporting earlier this month a near 90 percent drop in profit in its second quarter.

Challenger said tight sales margins are in part due to competition from companies like Amazon and the ability of consumers to quickly compare prices between stores.

Best Buy did not return a request for comment.

Copyright 2012 ABC News Radio

Wednesday
Aug222012

Vice President Joe Biden: ‘Detroit’s Getting Back Up’ Economically

Joe Raedle/Getty Images(DETROIT) -- Revving up a crowd at a Detroit high school, Vice President Joe Biden offered up one of his father’s old adages to illustrate the tenacity the people of Detroit possess as their city works to recover from the crisis in the auto industry.

“My dad used to say you measure a man or woman – it wasn’t whether they got knocked down, but how quickly they got up. And guess what? Detroit’s getting back up,” Biden told an estimated crowd of 1,100 packed into a narrow hallway at Renaissance High School Wednesday.

Detroit’s unemployment rate remains more than a point above the national average, sitting at 9.7 percent in June, but over the past three years, the unemployment rate in the city has decreased dramatically from its 27.8-percent rate in July 2009. Michigan’s unemployment rate rose last month, jumping from 8.6 percent in June to nine percent in July.

Biden, who called Mitt Romney a “decent” man despite boos emanating from the crowd, knocked the presumptive GOP nominee for the 2008 New York Times op-ed he penned with the headline “Let Detroit Go Bankrupt,” saying that the president’s approach to dealing with the auto industry proved successful.

“In spite of Gov. Romney’s insistence that we let Detroit go bankrupt, we rescued the automobile industry,” Biden said.

The Romney campaign claimed Biden’s comments about Detroit’s turnaround are “out of touch.”

“For millions of middle-class families, Vice President Biden couldn’t be more out of touch with the state of the economy,” Ryan Williams, a spokesman for Romney, said in a statement. “After claiming yesterday, ‘the middle class is coming back,’ the vice president is now claiming that ‘Detroit is getting back up.’ But after nearly four years, middle-class families are struggling with lower income, fewer jobs, and increasing unemployment. The Romney-Ryan plan will provide 12 million new jobs, higher take-home pay and a brighter future for the middle class.”

While in Detroit Wednesday morning, the vice president had coffee with Michigan United Auto Workers leaders and, in the afternoon, he held two fundraisers in the Detroit area.

The vice president’s trip to Detroit came two days before Romney and his running mate, Paul Ryan, were set to campaign together in the state. A June NBC News/Marist Poll found President Obama ahead of Romney by four points.

The vice president shared the stage with a local phenom when he was introduced by Claressa Shields, a 17-year-old boxer from Flint, Mich., who won an Olympic gold medal in London earlier this month.

“We’ve had tough times in Michigan, but we never give up,” Shields said. “We just get up and keep going. We keep fighting with the president and vice president who’ve got our backs.”

While he attested to President Obama’s character with stories about their close relationship, the vice president also mentioned just how well he knew some of the other presidents.

“Folks, I can tell you I’ve known eight presidents, three of them intimately,” Biden said. “I have never, never once, in all the time I’ve been with this president … I’ve never once in the difficult decisions he’s had to make heard him ask me or anyone else, ‘What are the politics in this for me?’ Not one single time.”

Before departing the school, Biden posed for photos with the high school’s football team and offered them words of encouragement for their upcoming season.

“Hey guys, have a great season! Get up!” Biden said.

“Four more years!” one of the players shouted back.

“When you go to states, invite me. I’ll come!” Biden said.

Copyright 2012 ABC News Radio

Wednesday
Aug222012

Stress Is Just Like a Full-Time Job

David De Lossy/Photodisc/Thinkstock(NEW YORK) -- Back at the job from your summer vacation?  Feeling stressed already?  Welcome to the club.

Seventy-three percent of respondents from the 2012 Work Stress Survey conducted by Harris Interactive on behalf of Everest College reported being stressed by at least one thing at work.

The number one stress inducer, according to the survey, is a crummy paycheck although various other complaints are right behind, such as annoying coworkers, long commutes, too much work and veering off your career path.

The survey reveals that there are plenty of other annoyances that create stress like poor work-life balance, lack of opportunities to advance and of course, the boss from hell.

Surprisingly, fear of losing your job ranked near the bottom of major stressors as people seem less worried about job security than they have since the start of the Great Recession.

Yet, any kind of stress at work is not helpful, according to John Swartz, regional director of career services at Everest College, who says it “reduces productivity, lessens job satisfaction, lowers morale and has a negative impact on health” while costing employers billions of dollars every year.

Copyright 2012 ABC News Radio

Friday
Aug102012

Does President Obama Want to Take Over Other Industries?

MANDEL NGAN/AFP/GettyImages(WASHINGTON) -- It’s no secret President Obama is proud of the taxpayer-funded government intervention that rescued U.S. automakers GM and Chrysler back in 2009. He regularly takes credit for the companies’ resurgent profitability and hiring as one of his top achievements.

Now, Republicans say Obama is suggesting on the campaign trail that he wants to do it again, this time in other sectors of the economy, in order to “get the hand of government driving every industry in America.”

“From his failed stimulus bill and Solyndra-esque boondoggles to picking winners and losers at taxpayer expense in the auto bailout, President Obama has pushed aside free-market principles in favor of bigger and more intrusive government,” Romney campaign spokeswoman Andrea Saul said Thursday after Obama ended his Colorado campaign swing.

Saul and the Romney campaign point to a line Obama used this week on the stump when discussing the auto bailout and his economic vision for the future as the basis for the claim.

In Pueblo, Colo., on Thursday, Obama said, “Now, I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.”

Later in Colorado Springs, Colo., he put it this way: “I want to say what we did with the auto industry, we can do it in manufacturing across America.”

Republicans interpreted Obama as proposing government bailouts for other industries, or at the least a more active federal government role in creating or supporting jobs -- concepts anathema to many conservatives.

The Obama campaign refuted the notion as political spin that does not reflect the president’s sentiment or intention, pointing to full context of the quote as evidence.

Here’s what Obama said, in context:

OBAMA IN PUEBLO: “We’ve got a bunch of examples of the differences, the choice in this election.  When the American auto industry was on the brink of collapse, more than one million jobs at stake, Gov. Romney said, let’s ‘let Detroit go bankrupt.’  I said I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back and GM is number one again.   So now, I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry.  I don’t want those jobs taking root in places like China.  I want them taking root in places like Pueblo.  Gov. Romney brags about his private sector experience, but it was mostly investing in companies, some of which were called “pioneers” of outsourcing.  I don’t want to be a pioneer of outsourcing.  I want to in-source.  I want to stop giving tax breaks to companies that are shipping jobs overseas.”

OBAMA IN COLORADO SPRINGS: “This difference in vision, it shows up on all sorts of issues.  When the American auto industry was on the brink of collapse, one million jobs at stake, Mr. Romney said, ‘Let Detroit go bankrupt.’  I said, let’s bet on America’s workers.  And we got management and workers to come together, making better cars than ever. And now, GM is number one again and the American auto industry has come roaring back.   So now, I want to say what we did with the auto industry, we can do it in manufacturing across America.  Let’s make sure advanced, high-tech manufacturing jobs take root here, not in China.  Let’s have them here in Colorado.  And that means supporting investment here.”

Copyright 2012 ABC News Radio

Friday
Aug102012

Seniors Have Both High Hopes and Major Concerns About the Future

Digital Vision/Thinkstock(NEW YORK) -- Despite tough economic times, at least one group of Americans is bullish about their future. They’re the baby boomers born between 1946 and 1964.

In a poll conducted of 2,250 people ages 60 and older by the National Council on Aging, UnitedHealthcare and USA Today, 75 percent of baby boomers believe life will continue to get better, due in large part to people working longer and advancements in healthcare.

However, their optimism is also tempered by some realism about the way the economy has stagnated, with a third of this group worried that they won’t be able to pay for long-term care, while 20 percent say that a major financial downturn would seriously affect their fiscal situation.

Just over seven in ten seniors earning under $30,000 annually, which is considered low income, admit to a lingering health problem and that they’re less likely to exercise than their more financially secure counterparts.

Meanwhile, about a fifth of seniors over the age of 65 are still working either full- or part-time, some because they want to, other because they have to in order to make ends meet.

“Aging in place” is another goal of most seniors -- that is, living in their own homes. Most people in their 60s say that it’s feasible to live independently, although less than half of folks in their 70s see that as a realistic possibility.

There’s another major concern brought up by the respondents in the survey -- that is, the availability of resources and services in their communities, with more than a fourth of people in their 60s worried that a lack of these services will make it more difficult to “age in place.”

Copyright 2012 ABC News Radio

Friday
Aug032012

163,000 Jobs Added in July; Unemployment Rate Rises to 8.3%

Tim Boyle/Getty Images(WASHINGTON) -- U.S. employers added 163,000 jobs last month, exceeding expectations, the Labor Department reported Friday morning.

The figure is the biggest increase since February and more than double the amount of positions that were added in June, 80,000.  Economists had expected to see around 100,000 jobs added to the economy in July.

"One hundred sixty-three thousand jobs added to payrolls was more than I expected and more than the consensus," Hugh Johnson, the chairman and chief economist of Hugh Johnson Advisors, told ABC News Radio.

"Maybe, just maybe, cross your fingers, we're getting back to adding to payrolls at the level we really want to see, something between 150,000 to 200,000 jobs, that's what you'd really like to see at this stage of the very sluggish economic recovery," he added.

But the unemployment rate didn't fare as well.  That number ticked up slightly to 8.3 percent as more people sought work.

"Although we added 163,000, we weren't able to absorb all of the new entrants to the labor force and as a result, the unemployment rate went up from 8.2 to 8.3 percent," Johnson said.

Economists had expected it would remain unchanged at 8.2 percent.

Copyright 2012 ABC News Radio







ABC News Radio